Wells Fargo & Company $WFC Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,109 shares of the financial services provider’s stock after selling 9,797 shares during the period. Raiffeisen Bank International AG’s holdings in Wells Fargo & Company were worth $5,020,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $4,512,563,000. Capital Research Global Investors increased its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares in the last quarter. Legal & General Group Plc increased its position in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after purchasing an additional 188,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Wells Fargo & Company by 13.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after purchasing an additional 2,369,260 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Wells Fargo & Company in the 2nd quarter valued at $1,364,923,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $89.90 on Friday. The stock’s fifty day moving average is $86.69 and its two-hundred day moving average is $82.66. The firm has a market capitalization of $271.86 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period last year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were issued a $0.50 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. Wells Fargo & Company’s payout ratio is currently 29.07%.

Analyst Ratings Changes

Several equities research analysts have issued reports on WFC shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. UBS Group decreased their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.61.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.